Maastricht Treaty reconsidered by troubled France, Germany

The Associated Press

PARIS — France and Germany plan to push for fundamental changes to the European treaty governing the euro in order to save the currency, President Nicolas Sarkozy said Thursday.

Sarkozy said in a speech in the southern port city of Toulon that during their meeting in Paris on Monday he and German Chancellor Angela Merkel will unveil proposals to try to lift Europe out of its debt crisis and “guarantee” its future.

“France will push with Germany for a new European treaty refounding and rethinking the organization of Europe.The Maastricht Treaty has revealed itself to be imperfect,” Sarkozy said, referring to the pact that led to the creation of the euro currency in 1999.

Changes in the treaty would have to be approved by all 27 EU members, 10 of whom don’t use the euro currency.

Sarkozy said the process of reforming the treaty “will be long and difficult” but is necessary to protect Europe’s place in the world.